Quote Originally Posted by angry_fred View Post
Has anyone heard anything at all about possible block building open dates or site tenants [[other than the edition hotel leak a while back)
There aren't any concrete plans and and there wont be anytime soon. Inside Rocket there are these things called "isms" that the organization lives by. One of them is "you'll see it when you believe it". It's basically wish casting. Bedrock can run its business by wish casting as its bottom line is tied to the wealth of a few individuals and not actual market forces.

I love what Dan has done in the city and the plans for Cleveland. I love that he went all in on the "Build it and they will come" bets and isn't skimping on anything. Be nice if Olympia took HALF the risks of what Dan's taken with these investments. However, look around the empty floors and some almost entirely empty buildings in the Bedrock portfolio [[and the CBD generally) and you can easily see there is zero demand for this building.

But, inside Rocket they "believe" there will be a turn around in the premium commercial real estate sector in Detroit... in an era of commercial real estate melting down as more and more companies seek to shrink their physical foot prints

They "believe" there will be a market for 950 sqft high rise condos at $850k+ in an era of interest rates at 20 yr highs and region where incomes don't support that price point.

They "believe" they will recreate the urban destination shopping mall in an area that is a retail ghost town in the era of the dead mall.

They have no actual plan, tenant commitments or data to back any of those beliefs up other than sepia toned photos of what Woodward looked like in the 40s and 50s....and recycling rumors of apple stores and cheescake factories The fantasy land that the organization lives in on this stuff is one of the reasons why they had so much difficulty in attracting a hotel operator.

This tower will be a very pretty, very empty building for a very long time.... and The Block portion will be GM winter garden 2.0.

But, a Potemkin village is better than no village at all.